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American firms will not be able to get tax free breaks if they outsource jobs to countries like india,china,philippines etc.U.S president obama said this on tuesday night.

He said “We will restore a sense a fairness and balance to our tax code” .More than 1000 U.S firms which have outsourced their jobs will be affected by this move of obama .Opposition parties have been demanding the abolition of this rule for a long time saying it was encouraging american companies to send their jobs overseas.

Some of the major companies which have outsourced their jobs are Microsoft,motorola,pepsico,ibm,honeywell.In his speech obama gave hope to all the american’s who are facing a state of crisis which they have never faced before but this rule will adversely affect countries like india where most of the people have now only started to prefer private companies more than government jobs.

And the most of the private companies are dependent on projects which are outsourced from the U.S and this may increase unemployment in countries like india.Obama in his speech said clearly that “While our economy may be weakened and our confidence shaken ,though we are living through difficult and uncertain times,tonight i want every american to know this: we will rebuild,we will recover“.

He said i will do all it takes to help the small businesses that can’t pay its staff and dropping out of high school is no more an option and by 2020 america will once again have the highest proportion of college graduates in the world.Obama is going to pass the budget proposal on thursday.